The Hindu Business Line : Physical rubber prices improve

Physical rubber market improved on Monday. The undercurrent appeared firm as covering groups maintained the prices at marginally higher levels expecting renewed quotes from the tyre sector.

According to sources, most of the dealers and growers were optimistic about another bull run, which might take sheet rubber up to Rs 85 a kg. The arrivals and transactions were low as they preferred to wait for the prices to rise up to their expectations

Sheet rubber RSS 4 closed at Rs 80.25 and Rs 80.50 a kg respectively at Kottayam and Kochi against Rs 80.00 and Rs 80.25 a kg on Saturday.

The NMCE rubber turned weak followed by a slight decline in global futures. The April contract was quoted at Rs 82.40 (Rs 82.48); May contract at Rs 84.75 (Rs 84.91); June contract at Rs 86.40 (Rs 86.49) and July contract at Rs 86.95 (Rs 87.06) per kg for RSS 4.

The volumes till noon were extremely dull at 381 lots with 80 lots in April, 199 lots in May, 71 lots in June and 31 lots in July.

The April futures for RSS 3 weakened to 236.9 yen from 237.6 yen a kg at TOCOM. The grade improved to Rs 91.66 from Rs 90.85 a kg at Bangkok spot.

The spot rubber prices per kg were: RSS-4: Rs 80.25 (Rs 80.00); RSS-5: Rs 79.50 (Rs 79.25); Ungraded: Rs 78.75 (Rs 78.50); ISNR 20: Rs 79.25 (Rs 79.00) and Latex 60% (per ltr): Rs 56.50 (Rs 56.50).